Charitable Foundations & Tax Exempt Organizations
Maynard Cooper represents both public charities and private foundations, including church affiliated organizations and corporate related private foundations and public charities.
This segment of the Firm’s Practice includes:
- Preparation and filing of all corporate and trust documents
- Representation before the Internal Revenue Service to obtain or maintain recognition of tax exempt status
- Ongoing representation of exempt entities on legal, administrative, and tax matters
- Advising boards and management of nonprofit organizations on corporate governance issues
- Handling any division of private foundations whenever the charitable interests of succeeding generations of family members diverge.
Maynard Cooper is increasingly involved with issues relating to the use of the internet by public charities and private foundations and the legal issues surrounding such use. In addition, the firm advises tax exempt entities on all other aspects of federal and state law, including:
- Filing of annual reports and registrations
- Inurement and private benefit issues
- Unrelated business income
- Excess benefit issues
- Lobbying and campaign activities
- For-profit subsidiaries and affiliates
- Joint venture arrangements
- Labor and employment law
- Real property
- Executive compensation
- Mergers and acquisitions
- All operational aspects
The firm’s federal income tax counseling and planning services deal with all organizational and operational aspects of obtaining and maintaining tax exempt and public charity status and planning for appropriate taxation of unrelated business activities. We assist our clients in compliance with applicable private foundation or intermediate sanctions rules, including structuring compensation arrangements to comply with the proposed intermediate sanctions regulations. We prepare exemption applications and obtain advance rulings from the Internal Revenue Service. We also provide tax planning and counseling services at the state and local level on state income or franchise tax exemptions, property tax exemptions, sales and use tax exemptions, and other issues.
Maynard Cooper also assists exempt organizations in tax audits and examinations. We have represented many nonprofit organizations on a wide range of matters, including proposed revocations of tax-exempt status, proposed terminations or changes of public charity status, issues related to operating affiliated organizations as private foundations, and business income tax issues. We provide similar services at the state and local levels. Moreover, state and local governments are focusing more frequently on whether the property, plant, and equipment of nonprofit organizations should be exempt from state and local property taxes. We have successfully litigated this issue for clients when such tax exemptions are threatened. Our attorneys also assist nonprofit organizations and their development officers on current and deferred charitable giving matters, including gifts of cash, appreciated land or securities, personal residences, and other forms of real and personal property. We also work with clients and prospective donees in planned giving transactions using charitable remainder unitrusts and annuity trusts, charitable lead trusts, pooled income funds, and other strategies.